Adrian Inn
Hospitality
for Sale
Sale Pending/Contingent
| Catylist Listing ID: |
30785732 |
| Property Subtypes: |
Motel
|
| Status: |
Pending/Contingent |
| Number of Units: |
78 Units |
| Building Size (RSF): |
36,620 SF |
| Gross Building Area: |
See Agent |
| Gross Land Area: |
4.37 Acres
|
| Sale Price: |
$695,000 |
| Unit Price: |
$8,910.26 Per Unit |
| Ceiling: |
9 ft. |
| Property Use Type: |
Business |
| Name of Establishment: |
Adrian Inn |
| Sale Terms: |
Cash to Seller |
| Cap Rate: |
Undisclosed |
| Last Updated: |
4/26/2022 |
Overview / Comments
|
Two-story motel on over 4 acres with convenient access to West US-223 which is visible from the property. The motel features exterior corridors, 78 guest rooms, lobby, guest laundry, banquet room, manager apartment and outdoor courtyard.
|
Financials
| Finance Data Year |
2021 |
| Real Estate Taxes - Annual($) |
$21,250 (Annual) |
| Assessed Value - Total($) |
$368,900 (Annual) |
Additional Details
| Nearest MSA: |
Adrian |
| County: |
Lenawee |
| Taxing Authority: |
City of Adrian |
| Tax ID/APN: |
XA0-100-0281-00 |
| Zoning: |
B-2 |
| Retail Clientele: |
General, Family, Business, Traveler, Tourist |
| Property Located Between: |
West US-223 and Stratford Drive |
| Property Visibility: |
Excellent |
| Largest Nearby Street: |
West US 223 |
| Highway Access: |
0.1 mile from West US-223 |
| Total Number of Buildings: |
2 |
| Number of Stories: |
2 |
| Property Condition: |
Average |
| Year Built: |
1966 |
| Year Renovated: |
2002 |
| Roof Type: |
Flat |
| Construction/Siding: |
Brick |
| Average Occupancy Rate: |
24 |
| Exterior Description: |
Exterior corridors, outdoor courtyard, grassy area along the courtyard and to the south of the building. |
| Total Parking Spaces: |
100 |
| Parking Type: |
Surface |
| Parking Description: |
Approximately 100 paved parking spaces to north, east and south of the building |
| Laundry: |
Shared |
| Heat Type: |
Natural Gas |
| Heat Source: |
Wall Units |
| Air Conditioning: |
Package Unit |
| Internet Access: |
Cable |
| Zoning Description: |
Community Business District |
| Water Service: |
Municipal |
| Sewer Type: |
Municipal |
| Easements: |
Ingress/Egress, Utilities |
| Legal Description: |
BEG IN CL US 223 368.65 FT WLY FROM NW COR E 1/2 SE 1/4 SEC 33 TH S 0^ 39' E 985.69 FT TH S 71^ 45' W 26.26 FT TH N 31^ 20' W 480 FT TH N 0^ 39' W 365.5 FT TH S 89^ 17' W 30 FT TH N 0^ 39' W 15 FT TH N 89^ 17' E 125 FT TH N 0^ 39' W 200 FT TH ELY 175 FT TO POB |
Demographic Statistics
| Proximity: |
1 mile |
3 miles |
5 miles |
| Total Population: |
5,742 |
27,394 |
41,128 |
| Median Age: |
32.37 |
35.92 |
37.54 |
| Households: |
1,929 |
10,268 |
14,524 |
|
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